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Car financing dilemma... HELP please!!
cathysr100
Posts: 6 Forumite
in Motoring
Need some advice on what to do for the best:
My car has completely packed in and Im looking at about £2000 to repair it, which is more than the car is really worth so not sure thats a viable option.
My current car is on HP - from 3 years ago aprox, and is in negative equity at the moment - I understand there is a voluntary termination possibility but have no idea how this works or how much costs or fees are involved?
The other thing then of course is the best approach to funding a new car.. well not new new, but something for me to drive. My annual milage is high due to my job, and Im wondering whether leasing is a better option?
Thought and help on any or all of this would be realy great! Thanks
My car has completely packed in and Im looking at about £2000 to repair it, which is more than the car is really worth so not sure thats a viable option.
My current car is on HP - from 3 years ago aprox, and is in negative equity at the moment - I understand there is a voluntary termination possibility but have no idea how this works or how much costs or fees are involved?
The other thing then of course is the best approach to funding a new car.. well not new new, but something for me to drive. My annual milage is high due to my job, and Im wondering whether leasing is a better option?
Thought and help on any or all of this would be realy great! Thanks
0
Comments
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I doubt a VT will be an option if the car is dead.
What actually is wrong with the car?0 -
Well it isnt dead - it needs the timing chain replaced. What are the conditions of a VT and how much does it cost?0
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Also - how do I get rid of the car if I cant VT it? Is there any option??0
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cathysr100 wrote: »Well it isnt dead - it needs the timing chain replaced. What are the conditions of a VT and how much does it cost?
Really?
Or has the timing belt snapped and wrecked the top end of the engine?
What car is it?
To VT the car it would have to be fixed or they'll charge you for fixing it.0 -
cathysr100 wrote: »Also - how do I get rid of the car if I cant VT it? Is there any option??
You can't, easily, as it isn't yours. You will have to pay off the finance or fix it and VT.
I think you might as well fix it and carry on driving it.
Have you had more than one quote for the work. It does sound expensive.0 -
Its a Nissan Primera - no its the chain, Needs replacing amongst a few other smaller jobs.
What do I do???!!0 -
Or is part ex an option with the same hp agreement?0
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Had several quotes but taken it to Nissan as the computers needed to be accessed to do the job0
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cathysr100 wrote: »Or is part ex an option with the same hp agreement?
Who's going to take it as a part-ex? No one is going to give you much for it and they are unlikely to want to roll up the outstanding finance into a new deal.0 -
Does it drive at all?0
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